Trumpenomics
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wrote on 6 Mar 2025, 13:11 last edited by
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wrote on 6 Mar 2025, 14:20 last edited by
@jon-nyc said in Trumpenomics:
What does Reagan think?
It is interesting that a lot of current politicians hold President Reagan on a pedestal, but then go against everything that he stood for. LOL
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wrote on 6 Mar 2025, 14:44 last edited by Horace 9 days from now
I don't see any good end to the tariffs other than better trade agreements, after which the tariffs go away. Trump presents them as a good thing in and of themselves, but at best they seem to be a stick to inflict pain on ourselves and others, with others being hit harder. The jobs that come into America will be anti-competitive, and will raise prices. A car built by Americans getting paid American wages will not be profitable at the current prices, even without tariffs. Same goes for any product built using cheap labor.
I guess there's an argument to be made about how inhumane all that cheap labor was. I don't suppose that argument is being made now, though there used to be murmurs of it from the left.
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wrote on 6 Mar 2025, 15:02 last edited by jon-nyc 9 days from now
I’m old enough to remember when leftist kids protested the WTO. Remember the big protest in Seattle?
I’m not sure what their point was. It’s not clear to me if they did either.
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wrote on 6 Mar 2025, 16:40 last edited by
Most of them I think are from government layoffs
U.S.-based employers cut more jobs this February than in any February in 16 years, according to a new report from outplacement firm Challenger, Gray and Christmas.
This year, employers announced 172,017 job cuts — the most the shortest month has seen since 2009,
and
The Labor Department will release the official February jobs report Friday morning.
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I don't see any good end to the tariffs other than better trade agreements, after which the tariffs go away. Trump presents them as a good thing in and of themselves, but at best they seem to be a stick to inflict pain on ourselves and others, with others being hit harder. The jobs that come into America will be anti-competitive, and will raise prices. A car built by Americans getting paid American wages will not be profitable at the current prices, even without tariffs. Same goes for any product built using cheap labor.
I guess there's an argument to be made about how inhumane all that cheap labor was. I don't suppose that argument is being made now, though there used to be murmurs of it from the left.
wrote on 6 Mar 2025, 16:56 last edited by xenon 9 days from now@Horace said in Trumpenomics:
I don't see any good end to the tariffs other than better trade agreements, after which the tariffs go away. Trump presents them as a good thing in and of themselves, but at best they seem to be a stick to inflict pain on ourselves and others, with others being hit harder. The jobs that come into America will be anti-competitive, and will raise prices. A car built by Americans getting paid American wages will not be profitable at the current prices, even without tariffs. Same goes for any product built using cheap labor.
I guess there's an argument to be made about how inhumane all that cheap labor was. I don't suppose that argument is being made now, though there used to be murmurs of it from the left.
If you play out the long game. Countries with no trade barriers will eventually overtake you in terms of making things in a cheaper way. Then you’ll have to put more tariffs on to protect yourself from their output.
We did tariffs for hundreds of years before we didn’t.
I’m on board with tariffs against countries that are doing predatory investments to shake out the market (eg China). But even then… there’s massive benefits to the consumers of other countries that get subsidized goods.
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wrote on 6 Mar 2025, 17:07 last edited by
A Chevy truck has a 10% tariff in Germany, while a German Mercedes has around a 2% tariff in the U.S. Or so I've heard.
It needs to be corrected, but Mercedes probably isn't going to dump cars in the U.S. Chinese EV makers, OTOH...
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wrote on 6 Mar 2025, 17:20 last edited by
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wrote on 6 Mar 2025, 17:51 last edited by
@jon-nyc said in Trumpenomics:
Heritage Foundation (Project 2025 authors) are now retconning previous papers about tariffs.
But there are still some articles up. So maybe only that one guy.
https://www.heritage.org/trade/report/do-no-harm-tariffs-and-quotas-hurt-the-homeland
Tariffs are taxes on Americans, and quotas cut businesses off from valuable goods that provide Americans with more choice.
Imports are integral to the competitiveness of domestic producers—and increasing their prices or limiting imports hurts Americans.
Both tariffs and quotas decrease freedom, disrupt supply chains, and artificially change prices.
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wrote on 6 Mar 2025, 18:09 last edited by jon-nyc 9 days from now
Reminded again of the Napoleon quote. I’m not surprised every man has his price. I’m surprised how low it is.
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wrote on 6 Mar 2025, 18:24 last edited by
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wrote on 6 Mar 2025, 18:30 last edited by
If the only cheap things in America are the words used by the Trump administration when they tell people that prices don't matter, they are not long for power. Obviously. They must know that.
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wrote on 6 Mar 2025, 18:32 last edited by
A fuller context of the quote might have to do with standard of living and income relative to prices, which could make some sense, but the runway needed for that sort of momentum in the face of immediately higher prices, is not there.
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wrote on 6 Mar 2025, 18:35 last edited by
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wrote on 6 Mar 2025, 18:39 last edited by
@jon-nyc said in Trumpenomics:
Good point from Alex Tabarrok, GMU colleague of Hanson, Caplan, and Cowen.
That's what I just wrote, but I fleshed it out a bit. Did you post that for the people who have me blocked?
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wrote on 6 Mar 2025, 18:47 last edited by
The stock market continues to hemorrhage bigly.
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wrote on 6 Mar 2025, 18:55 last edited by
I’ve heard people say it’s all about confidence and optimism.
Perhaps investors think Trump doesn’t have the right temperament this time around.
Or maybe it’ll be fine tomorrow… who knows.
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wrote on 6 Mar 2025, 19:11 last edited by Copper 9 days from now
Every tariff discussion should be grounded in two key numbers: 50 and 33
Every tariff discussion should be grounded in one key question.
Does this tariff help in the coming war against China?
Lose that war, and the rest of this doesn't matter.
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Every tariff discussion should be grounded in two key numbers: 50 and 33
Every tariff discussion should be grounded in one key question.
Does this tariff help in the coming war against China?
Lose that war, and the rest of this doesn't matter.
wrote on 6 Mar 2025, 19:21 last edited by Renauda 9 days from now@Copper said in Trumpenomics:
Every tariff discussion should be grounded in two key numbers: 50 and 33
Every tariff discussion should be grounded in one key question.
Does this tariff help in the coming war against China?
Lose that war, and the rest of this doesn't matter.
Then if that is the parallel world you live in, MAGAt USA should immediately stop shitting on its friends and allies with punitive sanctions disguised as tariffs, and extortionist threats. Would help too to your perfidious demagogue president would stop licking Putin’s ass.
My next elbow will be a hell of lot harder if you come back at me with your usual disingeuous and passive aggressive snark
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@Copper said in Trumpenomics:
Every tariff discussion should be grounded in two key numbers: 50 and 33
Every tariff discussion should be grounded in one key question.
Does this tariff help in the coming war against China?
Lose that war, and the rest of this doesn't matter.
Then if that is the parallel world you live in, MAGAt USA should immediately stop shitting on its friends and allies with punitive sanctions disguised as tariffs, and extortionist threats. Would help too to your perfidious demagogue president would stop licking Putin’s ass.
My next elbow will be a hell of lot harder if you come back at me with your usual disingeuous and passive aggressive snark
wrote on 6 Mar 2025, 19:31 last edited by@Renauda said in Trumpenomics:
Would help too to your perfidious demagogue president would stop licking Putin’s ass.
Let's not rush to judgement. He may just be licking the base of his own pinky. You can't really tell.